Today’s Editorial October 19: Health insurance needs shot in the arm

There’s something woefully wrong with the health insurance system in the Cayman Islands.

While the law makes it mandatory for every employer to provide health insurance for every employee, there are problems with the practices of some insurers and some healthcare providers.

For starters, not every healthcare provider is doing what the law requires when it comes to filing health insurance claims.

Many are simply handing over the form to the patient and telling them to deal with it.

That’s not the way it should work, but nothing is being done to stop those healthcare providers who are snubbing their noses at the law.

That’s just one of a myriad of problems facing the health insurance industry.

Last year the Health Insurance Commission received 531 complaints about health insurance, ranging from pre-existing condition language, coverage confirmation and approved insurers failing to live up to their filing obligations.

Fortunately, those at the HIC are listening and are coming up with plans to address the problems plaguing the insurance industry.

While employers are required to provide health insurance for their employees, many ignore the law and simply don’t comply.

Those who are caught and successfully prosecuted are finding themselves paying large fines.

But the one’s who aren’t caught are effectively keeping their operating costs down.

Health insurance in the Cayman Islands is costly to both the employer and the employee.

We understand why some employees would like to opt out of having to fork over money each month for health care, but it really isn’t an option.

Those who are doing so illegally are taking a dangerous gamble that they won’t fall ill or be involved in a serious accident.

Employers who let employees opt out are breaking the law and subject to paying out-of-pocket medical expenses for those employees if medical attention is required.

Right now the healthcare insurance system in the Cayman Islands is in need of its own shot in the arm.

Hopefully those at the Health Insurance Commission, by working with insurers and healthcare providers, can come up with a way to make health insurance viable and affordable.